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Robert posted on the forum, under the "waiting to hear ....." thread but I thought I would make sure y'all didn't miss it.

Here's what he had to say -

Robert
Frozen Embryos


Joined: 11 Oct 2002
Posts: 4

Posted: Wed Oct 16, 2002 9:16 pm Post subject:

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Hey Cate,

Trying to work out payment with Ross and will know (and tell) more tomorrow. Hopefullly I will have good news.

Robert

--

So it appears there is still hope

Don't hold your breath.

From what I heard, AU might have gotten someone to put the lunchboxes on their credit card. That's better than nothing. Do any charge cards have $200,000 limits so BMG can get paid?

The..........

...sun'll come out...

...tomorrow.

Betcher bottom dollar that tomorrow...

...things won't change.

Jason Rosenfeld wrote:From what I heard, AU might have gotten someone to put the lunchboxes on their credit card. That's better than nothing. Do any charge cards have $200,000 limits so BMG can get paid?

An American Express business account may carry that limit... but you'd still have to cough up the money at the end of the month.

Lurker1999 wrote:

Jason Rosenfeld wrote:From what I heard, AU might have gotten someone to put the lunchboxes on their credit card. That's better than nothing. Do any charge cards have $200,000 limits so BMG can get paid?

An American Express business account may carry that limit... but you'd still have to cough up the money at the end of the month.

Actually, AMEX advertises itself as a "no limit" card. But surely there must be a ceiling to their credit somewhere.

Howard wrote:Actually, AMEX advertises itself as a "no limit" card. But surely there must be a ceiling to their credit somewhere.

That is true but if you default on paying that balance in full by the end of the month you'll have someone a lot meaner than a bunch of web posters after you. Defaulting on a $200,000 debt to a 900 pound gorilla (i.e. credit card company) would leave a 7 year scar on the credit report. And I'm certain they're not going to be sweet-talked into waiting 8 months while a wire transfer is "lost".

I'm not sure how it would work thought if the business account is through CMI Holdings and they declare bankrupcy. Would Ross' personal credit history still be intact and allow him to start all over again?

(Yes basically I'm playing devil's advocate for the worst case scenario since that's what I expect.)

Jason Rosenfeld wrote:From what I heard, AU might have gotten someone to put the lunchboxes on their credit card. That's better than nothing. Do any charge cards have $200,000 limits so BMG can get paid?

$200,000??? Isn't that greater than the net worth of CMIH (according to their stock price)

AMEX don't have an official credit limit, but if your account goes over £100k (~$150k), they do make contact and confirm that your recent spends are genuine.

If you don't pay at the end of the month (I think you get 10 days after the "pay by" date on your statement), they suspend your account, then the letters from lawyers start.

The first paragraph I can vouch for, the second is just hearsay thank goodness!

Hardware wrote:AMEX don't have an official credit limit, but if your account goes over £100k (~$150k), they do make contact and confirm that your recent spends are genuine.

The first paragraph I can vouch for

You've spent over a hundred grand in a month?
Wow!
What on earth on????

(if you dont mind me asking)

I had an older friend in the past who once bought an Apartment in New York ( around 300,000$ US ) on his Amex card !!!

He was a stock broker who made a lot of money, and he moved to New York.

The mortgage was taking too much time to get approved, so he paid with his Amex card, and repaid the card when the mortgage was approved.

I don't know the exact details thought... He might have put soem garantees or maybe the mortgage was approved but not paid yet and Amex contacted the bank to confirm money was on it's way.

Anyway, he laminated his credit statement and hung it on his wall !

theandygrant wrote:You've spent over a hundred grand in a month?
Wow!
What on earth on????

(if you dont mind me asking)

I travel alot on business internationally (mainly US and Asia, I live in the UK) - on occasion, my card limit has been over $150k; mainly when I've had to pay for airline tickets and hotel bills for other colleagues who were with me.